Following the sun

ITP.net
Had Adam Smith been conducting his research into the wealth of nations at the start of the twenty first century, it would almost certainly include a chapter on offshore outsourcing. In today’s age of increased globalisation, outsourcing has become a common feature of running enterprises. Just as one settles down each morning to a breakfast harvested from different regions, one similarly conducts the modus operandi of business on a multinational level.In simple terms, outsourcing is the practice where an enterprise transfers the responsibilities of one or more of its functions or activities to another company, which would otherwise have been performed from within the organisation. ‘Offshore’ signifies that companies outsource their work to companies abroad in order to leverage their expertise in that field and gain benefits in cost and quality, thereby increasing their competitiveness in turn. more...